- March 25, 2023
- Posted by: Forex Wiki Team
- Category: Free Forex EA
EA RED DRAGON Review
Forex trading can be a daunting task, but with the advent of Expert Advisors (EAs), the process has become a lot easier. An EA is a software program that can be integrated with a trading platform to automate the process of buying and selling financial instruments. One such EA that has been gaining a lot of attention lately is the EA Red Dragon.
The EA Red Dragon uses a strategy based on the breakdown of the most important support and resistance levels. This strategy allows the EA to identify key areas of support and resistance and make trades based on the price action around these levels. The use of an adaptive trade trailing algorithm ensures that the EA can make adjustments to its strategy based on market conditions.
Best Brokers List
The EA RED DRAGON works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:
EA RED DRAGON Settings
Choices
- Order Kind - buying and selling instructions.
- Magic - The magic variety of orders.
- Order remark - Feedback on the order.
- Slippage - Allowable slippage earlier than the order is triggered.
- Use customized slippage - if true, the order will likely be closed if slippage is greater than customized slippage .
- customized slippage - Slips to shut an order.
- Max Unfold - The most allowable unfold earlier than a pending order is triggered.
- disable commerce if unfold excessive - Turns off buying and selling for a sure time (from 5 minutes to 24 hours) if the typical unfold exceeds Max Unfold.
- Use_Risk_MM - If true, the lot measurement will increase with the expansion of the account stability. (Threat administration).
- Percentage_Risk - Improve lot measurement primarily based on stability (danger administration in%).
- Lot - Lot is everlasting (if Use_Risk_MM is fake).
- Take_Profit - Take revenue in factors.
- Stop_Loss - Cease loss in factors.
- Adaptive Trailing cease - If true, adaptive trailing cease is used.
- Trailing Cease - Trailing factors when a place is in revenue. (-1 = off, 0 = Stop_Loss ).
- Good cease loss - Good cease loss factors (-1 - disable)
- Threat Safety Shut Orders - If true, pressured closure of positions is used to guard in opposition to losses.
- breakdown previous weeks - If true, use the breakdown of previous weeks.
Buying and selling throughout the week:
- Monday - If true, commerce on Monday.
- Tuesday - If true, commerce on Tuesday.
- Wednesday - If true, we commerce on Wednesday.
- Thursday - If true, commerce on Thursday.
- Friday - If true, commerce on Friday.
Buying and selling by time throughout the day:
- Use time - If true, buying and selling is timed.
- Time_Setting - Server time or laptop time.
- GMT_mode - The mode of figuring out the dealer server time offset relative to GMT. (0 - unused).
- Every_Day_Start - Time to begin work (hh: mm).
- Every_Day_End - Finish time (hh: mm).
Friday shutdown time:
- Use time - If true, buying and selling is timed.
- Time_Setting - Server time or laptop time.
- GMT_mode - The mode of figuring out the dealer server time offset relative to GMT. (0 - unused).
- Disable_in_Friday - Finish time on Friday (hh: mm).
One of the key advantages of the EA Red Dragon is its use of a very small stop loss (SL). This ensures that the account is always protected from equity drawdown with a very low risk-per-trade. Additionally, the EA integrates a system of partial position closure during slippages, which can be configured to suit individual preferences.
The EA Red Dragon has been backtested and optimized using real ticks with 99.9% quality. This means that the EA has been rigorously tested to ensure its effectiveness in a variety of market conditions. Additionally, the EA has successfully completed stress testing, which ensures that it can handle volatile market conditions.
Another advantage of the EA Red Dragon is that it does not use risky strategies such as Martingale, Ilan, arbitrage, Grid, and others. This makes it a safer option for traders who want to minimize their risk exposure. The EA also always uses stop loss to protect capital.
The EA Red Dragon is compatible with different brokers, and it can work with a small deposit. It uses only pending orders, and traders can choose to use either fixed lot or money management (MM) strategies. The EA also does not open orders with a high spread, which can be configured to suit individual preferences.
To use the EA Red Dragon effectively, there are some requirements and recommendations to consider. The EA requires 5-digit quotes and a maximum allowed spread of 0 to 20 pips. The minimum deposit is $100, and traders should use a VPS or hosting server with minimal network latency to the broker's server. An ECN broker with low commission and spread is also recommended. A leverage of 1:100 or more is advisable, and traders using several advisors on the same account should ensure that all the advisors have different Magic numbers. Finally, traders should check with their broker that scalping strategies are allowed by holding a position for less than a minute.
Conclusion
The EA Red Dragon is a powerful tool for traders who want to automate their trading process and minimize risk exposure. With its advanced algorithm and rigorous testing, it is a reliable and effective option for traders who want to succeed in the forex market. However, as with any trading strategy or tool, traders should always exercise caution and use proper risk management techniques to ensure long-term success.
EA RED DRAGON Free Download
We highly recommend trying the EA RED DRAGON with ICMarket demo account. Also, familiarize yourself with and understand how this system works before using it on a live account.
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